Corebridge Financial Inc. Has $5.99 Million Stake in Cirrus Logic, Inc. (NASDAQ:CRUS)

Corebridge Financial Inc. lowered its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 4.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 60,134 shares of the semiconductor company’s stock after selling 3,029 shares during the period. Corebridge Financial Inc.’s holdings in Cirrus Logic were worth $5,988,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC bought a new position in shares of Cirrus Logic during the 4th quarter valued at $28,000. Westside Investment Management Inc. acquired a new position in Cirrus Logic during the third quarter worth $35,000. Sound Income Strategies LLC bought a new position in Cirrus Logic during the fourth quarter valued at about $46,000. R Squared Ltd bought a new stake in shares of Cirrus Logic during the 4th quarter worth about $47,000. Finally, Quent Capital LLC increased its holdings in shares of Cirrus Logic by 167.2% during the 4th quarter. Quent Capital LLC now owns 473 shares of the semiconductor company’s stock valued at $47,000 after acquiring an additional 296 shares during the last quarter. Institutional investors own 87.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CRUS shares. StockNews.com upgraded Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Barclays upped their price objective on shares of Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Finally, Benchmark reiterated a “buy” rating and issued a $125.00 target price on shares of Cirrus Logic in a report on Wednesday, March 19th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.86.

Insiders Place Their Bets

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $100.00, for a total value of $205,100.00. Following the completion of the transaction, the executive vice president now owns 8,330 shares in the company, valued at approximately $833,000. This represents a 19.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.02% of the company’s stock.

Cirrus Logic Trading Down 3.6 %

Shares of CRUS stock opened at $99.51 on Friday. The firm has a market capitalization of $5.29 billion, a P/E ratio of 18.06 and a beta of 0.89. Cirrus Logic, Inc. has a 1 year low of $81.30 and a 1 year high of $147.46. The firm’s fifty day simple moving average is $103.47 and its 200 day simple moving average is $108.36.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 EPS for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.21). Cirrus Logic had a net margin of 16.55% and a return on equity of 16.60%. Equities research analysts anticipate that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Cirrus Logic Company Profile

Cirrus Logic, Inc, a fabless semiconductor company, develops low-power high-precision mixed-signal processing solutions in China, the United States, and internationally. The company offers audio products, including amplifiers; codecs components that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single integrated circuit (IC); smart codecs, a codec with integrated digital signal processing; standalone digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that helps to enhance user experience with features, such as louder, high-fidelity sound, audio playback, voice capture, and hearing augmentation for use in smartphones, tablets, laptops, AR/VR headsets, home theater systems, automotive entertainment systems, and professional audio systems.